Is this the sign that all is not well?

I wouldn't think much into how they record their finances. F1 probably has ridiculous expenses that go on the books that are probably BS, but everyone is happy.

 

This is interesting as other races are equally boring to watch as well:

Though not part of the fiscal quarter in question, F1 also saw a 32% year-over-year drop in U.S. viewership for last weekend’s Miami Grand Prix, ending a run of audience growth seen during each of the first five 2025 races.

 

Programming sucks. That has to be part of the viewership problem. We get random coverage and the race. Yeah I could buy the F1 feed or whatever but I’m too lazy to figure it out. I’m a press one button kind of guy.

 

From what I saw Miami was not sold out. Tickets were available even just before the event

 

The leaders speak as if the series is being marketed for a sale. Emphasis on future but not current revenue etc. The generic language is also deflective as well. Dont look at today please. But wow out future lol

 

From the article: "Overall, F1 says it now has $14.2 billion in future revenue contractually secured."

"Revenue". You can't buy milk from revenue.

 

I was getting instagram ads for tickets to Miami the entire race weekend

 

I heard that the gate for the whole weekend was somewhere in the order of 280,000. I have no idea of the capacity of the venue but that doesn't sound like a large number over the 3 days.

 

If they think things are bad now wait until next year with their dumb regs.

14.2b in future revenue (note not profit). Over what time period? Bet you it's TOTAL projected revenue until at very least 2042 and a whole lot of ifs and buts and potentials.

They're driving this sport into the ground.

 

I don't blame you for accusing the rules for the decline of attendance, but I see another explanation: the economic situation.
In these times of uncertainty, most people are becoming cautious with the way they part with their money.
They buy less cars, travel less, spend less on holidays, go less often to restaurant, etc ...
There are also less attendance in concerts, I am told by relatives in this field.
So, I am not surprised that F1 GPs which are among the most expensive events to attend, are also affected.

 

This will be the first new, US race dumped lol. Austin is the only track that has racing and is an F1 showcase in terms of racing.
Im amazed that LIberty wants to carry the cost of Vegas GP etc. Dump that on a promoter and then see how viable it is. The have overbuilt the series like a land developer in Spain in 2008 just before the financial crash lol.

Here is more lol--
F1 owner disappointed with Las Vegas GP finances
Formula 1 owner Liberty Media admits it is "disappointed" about the financial numbers coming out of its crown jewel event, the Las Vegas GP.

Overall, the sport's popularity is surging, with Sky Deutschland boasting about soaring numbers in exciting new mainstream demographics.
We have more than doubled the numbers in the target group of 14 to 29, sports editor-in-chief Alexander Rosner told SID news agency. And we now have three times as many female viewers.

However, Liberty Media's stock price actually fell by over 5 percent in the last period, which chief financial officer Brian Wendling attributes solely to the Las Vegas GP.

We can't comment on the specifics, he said, but the majority of the miss that you guys are calculating based on the team payment was Vegas-related.

Liberty Media's new CEO Derek Chang agrees.

I think we all here were disappointed by some of the financial metrics in the early going here, he said.

Las Vegas joined the F1 calendar in 2023, in a highly unique event for F1 as it is actually promoted by Liberty Media - with the paddock and pitlane sitting on land the sport's commercial rights holder itself owns.

CEO Chang says the race has so far missed internal expectations on revenue, but explains that executives have already enacted changes that will benefit 2025 and support a financially successful race for F1.

We now have two years of real data to understand what tickets and products sold well, the demographics of the fan base and the overall cost structure of the event, he added.

We have a clear handle on near-term priorities for Vegas to improve and we are confident in the value it provides.

Wendling said the biggest problem for the event last year was slow ticket sales, after Liberty Media set prices at high levels never before seen in F1 history.

He also admitted there had been softness in certain hospitality offerings.

F1 CEO Stefano Domenicali says the sport remains committed to its Vegas project.

As have always said, this is an incredible grand prix on which we need to keep working and make sure that it will stay as we believe at the top of the range, said the Italian.

We need to make sure that we focus our attention on the cost structure of the situation that we have to manage in Vegas. We also need to have even a better local relationship because that's the key of the success.

 

F1 doesn’t need three races in America, particularly when two of them are temporary circuits in parking lots and public streets

 

Fully agree. Austin is an F1 race with a proper circuit the other 2 are 'events' for its new part time clients who spend their lives on their phone not watching anything but that.

 

I have been going to the Montreal GP for 12 years but stopped last year tickets 2x the price check points at the gate,no water no Wine No sandwich you have to buy everything inside Water $7.00 Beer $14.00 a can no fun anymore Greed took over

 

I think - even if that could seem far fetched - that F1 has gone the same direction as Ferrari: expanding its target customer base far beyond the people really interested, and re-dimensioning accordingly (in the case of F1, that has been fueled by Netflix DTS for instance; for Ferrari, by the "FUV" and all the hype about luxury).
Initially that allowed to grow, but the drawback is that the new customer base is far less loyal and could go looking somewhere else very quickly. And meanwhile, the traditional customer base that had been the core of the business before is neglected; so in the end there could be not much left.

 

Miami food beverage prices were in the news around me here in Germany. Beyond robbery. Its F1 not a gourmet food celebration. I know the promoters need to make a living but Liberty has priced out a majority of fans. Given the 'franchise' model they have pursued, they will hope to make significant portion of their revenue from TV rights as well, assuming viewer numbers remain high. New negotiations will open soon for the USA market I believe.

What worries me is they will sell this to the Saudis, all of F1. I dont trust them to keep ownership much longer the temptation to cash-out must be part of their decision matrix as the falling numbers come in from multiple races just in the open press lately.

If 2026 does not go well and they have weak results this season vs 2023 or 2024 they should probably move on. The question is who will buy it and who will stay as the makers are not afraid to cut the cord, so to speak!

 

I for one think I've gone to my last F-1 race. Other than being invited by a sponsor I'm out:

1. Its way, way too expensive. For the value of what you get, not worth it. An average ticket at $500 - 1500 for the weekend? crazy. its a CAR race.....
2. Paddock Club is now totally ridiculously expensive, and again not worth it. while you get closer than the average fan, its not by that much. when passes were $5K for a weekend... it was a maybe, now that they are $12+ its stupid.
3. You see far more on TV. DTS has turned it into a concert, with most people clueless as to what is going on....
4. At Monza last year the crowds were out of control. we had hospitality in the paddock, but getting to and from was hours long lines, and walks, in the super hot sun. poor organization etc. the food and hospitality was ok, but for the cost... way not worth it.
5. The weekends have very little racing - you only see F1 for about 4-5 hours max over the entire weekend. and that is if there are no Red flags, weather etc.
6. There is nothing unique at the tracks. all the merch, is F1, its literally the same across the world, there is very little that is unique to each track/ tradition. In the Monza paddock hobby shop, even that was taken over by F1. it used to be really cool that you could get something you would not find elsewhere, but now you can just order it on amazon.

I know I'm the mean old man - get off my lawn - kinda guy.... but its jumped the shark big time. but I have solutions:

1. The F-1 Paddock should be open 2 hours after racing and 2 hours before. with all cars on display / being worked on. limit people to 45 min per ticket per day. basically it would be a guided walk through the paddock / pit lane. Each hospitality unit has an autograph session / swag give away station. Drivers not mandated to appear, but could always do so. encourage TV coverage so people want to tune in and see themselves on TV... charge $200 for entry.
2. Create an automated walk way down pit lane / on the pit wall. you know like they have in the airport, and you get to pay to ride it and see the teams and cars up close. Enclose the walkway in protective glass / fencing.
3. Each race gets to have unique branded items, and invites specialist local vendors to augment the F1 swag shops.
4. Set up F-1 Arcades, and Tyre stop compeitions across the track for fans...keep them involved during down times
5. have F4, F3, F2 Races each day. Friday is F4 quali and race, in the am, Quali and race for F3, and Practice for F2. Saturday is F2 quali and race, + F3 reverse grid in the afternoon.
6. Have the host country hold local racing / Historic F1 races
7. Have current drivers from F-1, WEC, Indy, IMSA etc.. do a Porsche challenge race, with Road cars on Thursday afternoon.
8. Have a lego race just before the F-1 race like at Miami.. lots of In car footage. for half hour.

 

There's a family(4) on YouTube who went to Disney for the day. From parking to tickets to meals inside Disney in Florida, they spent $1200 FOR THE DAY!!!

I know they only saw a fraction of the theme park since it takes like 10 days to 2 weeks to see the WHOLE theme park

Yes, I know there are packages where they probably could have saved money in the long run.

But that's Florida and Las Vegas. "For the haves and have nots."

 

Fully agree based on my time 10+ years as a Paddock Rat lol No longer going unless invited or Im nearby and its on whim/impulse. Declined Yas and another race I was near as no real interest in the F1 event last year.

Liberty have turned F1 into a generic F1 shopping arcade ala Disney. Thats it. There is zero unique atmosphere at most circuits. Not all but most. The street races are just a sideshow for the 'event' Liberty build so you spend on retail + the race. For a fan who loves racing its soooo much better on tele.

Your ideas for racing events during the F1 weekend are apparent. Just not to the profit focused, IG, X engagement marketers at Liberty. This is exactly why I started the 'Who needs F1 thread.

 

Vegas offered for 2 years in a row some of the best racing of the year (of those without weather issues of course).

 

But that is modern business. It's a ponzi scheme looking for the greater fool. At some point the music stops and someone does not have a chair. It will be interesting to see how the current era of "private equity" will pan out. I suspect some people are going to make it big and others are really going to take it in the shorts!

 

Glad I got to watch it on tv, like the rest of the events. I'd love to go to another F1 race, but the prices are just way too expensive. Vegas is one that is lunacy levels of expensive, and it's not a family event.

 

That's a classic business mistake of fast expansion into markets. Alienating core customer is violates the #1 rule of business, "don't forget what made you successful."